Weekly Summary: 2024 China Bearing Steel Market Trend in Fourth Week of January is temporarily stable

Weekly Summary: 2024 China Bearing Steel Market Trend in Fourth Week of January is temporarily stable

I Review this week

1. Price

This week the national bearing steel mainstream market price stable operation. At present, the round steel of GCr15Φ30 in five major markets in the country (average price) is 5160.5 yuan/ton.

2. Overview of major markets

Liaocheng market bearing steel prices individually increased, downstream procurement enthusiasm is still insufficient. Liaocheng market with giant energy, Jiyuan steel plant supply is more abundant, a number of traders inventory maintained at about 1000 tons. In the recent stage, the market transaction situation is relatively general, mostly based on loose orders, downstream terminals take just-needed procurement, and merchants are generally cautious in operation, but due to strong cost support, merchants are more willing to support prices. Overall, it is expected that the short-term Liaocheng market bearing steel prices are mainly stable. Jiyuan Steel GCr15Φ16-29.5 at 4780 yuan/ton, giant special steel GCr15Φ16-90 at 4650 yuan/ton.

Hangzhou market bearing steel prices stable operation, the shipment situation is general. The spot inventory of Hangzhou market is mainly based on the resources of Zhongtian Steel, Nanjing Steel and Daye special steel, and the amount of replenishing is not much recently, and most traders' inventory is stable at about 1000 tons. Supported by the price and cost of raw materials, merchants have obvious willingness to support prices, and the operation is mostly based on stable prices and volume shipments. Near the end of the year, the downstream small replenishment, trading performance is general, it is expected that the short-term Hangzhou market bearing steel prices or will run smoothly. As of press time, Zhongtian Steel GCr15Φ40-140 at 4730 yuan/ton, Daye Special Steel GCr15Φ20-40 at 5100 yuan/ton.

Wuxi market bearing steel prices run smoothly, market sentiment is not high. The spot inventory of Wuxi market is mainly based on the resources of Zhongtian Iron and Steel, Xingcheng special steel and Bensteel, and most traders' inventory is about 1000 tons. At present, downstream terminal enterprises purchase cautiously, traders also continue to purchase just need, approaching the Spring Festival holiday, business operations tend to be cautious, and prices are mainly stable. On the whole, it is expected that the price of bearing steel in Wuxi market will continue to be stable in the short term. As of press time, Zhongtian Steel GCr15Φ40-140 at 4,700 yuan/ton, Xingcheng Special Steel GCr15Φ31-90 at 5,820 yuan/ton.

Bearing steel prices in Dalian market are temporarily stable, and merchants are cautious in replenishment operations. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very abundant, a number of traders storage in 3000-4000 tons. Downstream terminals and traders choose just need to purchase, the market atmosphere is cold, and the transaction is weak. In terms of sentiment, because market demand has not reached the expected level, businesses are more cautious. Overall, it is expected that the price of bearing steel will be weak and stable in the short term. At present, Bentang special steel GCr15Φ81-130 is 4750 yuan/ton, East special shares GCr15Φ86-180 is 4900 yuan/ton, and Jianlong Beiman GCr15Φ30-75 is 4850 yuan/ton.

Luoyang market bearing steel prices run smoothly, businesses are more cautious. This week, Luoyang market to the warehouse resources are not much, the market to Jiyuan, Daye special steel and He steel stone steel supply, some traders storage in about 1000 tons. The downstream terminal procurement enthusiasm is weak, the market demand is slow to release, and the business wait-and-see risk-aversion is strong. In terms of profits, due to the slow release of demand, merchants in order to promote transactions, bargaining space has been enlarged, so profits have been slightly narrowed. In summary, it is expected that the short-term bearing steel price will run in a narrow range. As of press time, Jiyuan Steel GCr15Φ6.5-23 is 4900 yuan/ton, Daye Special Steel GCr15Φ20-40 is 5150 yuan/ton, and Hegang Steel GCr15Φ131-180 is 4750 yuan/ton.

3. Steel mills

From January 19 to January 26, the price adjustment of major bearing steel mills in the country is as follows: in this period, a total of 1 steel mills released price adjustment information, a cumulative release of price adjustment information, next week should continue to pay attention to the impact of consumer demand and steel mill maintenance.

II Next Week Outlook

This week bearing steel prices stable operation mainly. Approaching the Spring Festival holiday, the market demand gradually weakened, the transaction was mainly based on just need, the shipment speed of traders slowed down, mostly for bulk cargo transactions, but considering the cost price, the spot price formed support and the willingness to support the price was sufficient, and the individual resources were slightly increased. Overall, it is expected that the bearing steel market price will remain stable next week.